The newly formed Decode Genetics Ehf will continue all of Decode's human genetics operations and brand products and services. Meantime, the publicly traded entity known as Decode Genetics expects to be liquidated.

Lycera, which is developing drugs for autoimmune diseases, will use the cash to advance through Phase II proof-of-concept studies a drug based on University of Michigan research, and into Phase I trials a second candidate based on research conducted at New York University.

The deal brings to six the number of academic institutions from which Fate has licensed IP related to using small molecules to induce pluripotency in stem cells for therapeutic effect, drug discovery, and matched cell-replacement therapies.